The government’s 22nd RTBs sale marked the first time investors were able to buy online through their accounts with state-run lenders Development Bank of the Philippines (DBP) and Land Bank of the Philippines.

De Leon had said that moving forward, the Treasury was looking to require all selling agents to have an online platform to make RTBs more accessible, especially to overseas Filipino workers.

During the rate-setting auction on Feb. 26, the Treasury had awarded an initial P113.772 billion as tenders reached P121.807 billion.

This was the Duterte administration’s fifth RTB sale during its first three years in office, as the government wanted to borrow more to partly finance the massive infrastructure projects under the ambitious “Build, Build, Build” program.

In June last year, the government issued P121.8 billion in three-year RTBs at 4.875 percent.

In April 2017, the Treasury sold P181 billion in three-year RTBs at a coupon of 4.25 percent.

In September 2016, the Treasury issued P100 billion in 10-year RTBs at a 3.5-percent yield.

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